BNB Chain back online after around $100 mln lost in possible exploit

title By CryptoGurukul October 08, 2022

Wish you have a wonderful day. Let's explore the story together

[{"selector":"#anim-ac4ac25a-25dc-4528-86d0-a1cab776a8d5","keyframes":[{"offset":0,"transform":"translate3d(0, -380.91168%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.28999999999999998,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.45000000000000001,"transform":"translate3d(0, -107.112364416%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.60999999999999999,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.70999999999999996,"transform":"translate3d(0, -36.415156608000004%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.80000000000000004,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.84999999999999998,"transform":"translate3d(0, -13.674729312%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.92000000000000004,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.95999999999999996,"transform":"translate3d(0, -5.942222208%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":1,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"}],"delay":0,"duration":1600,"fill":"both"}] By CryptoGurukul October 08, 2022

"Due to irregular activity, we're temporarily pausing BSC," the BNB Chain Official Twitter account tweeted.

[{"selector":"#anim-34f4b67c-4a53-4b99-885b-424279d3d567 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-31.249999886225726%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}]

Blockchain company BNB Chain said in a tweet that around $7 million worth of tokens had been frozen, and the total estimate is around $100 million to $110 million.

With such a mere fraction of assets lost, the upside to BNB's gamble was reasonably significant and illustrated why they halted the chain rather than risk more assets escaping.

[{"selector":"#anim-cb5ed9d8-24f6-42d3-b5af-6bf3604ba40d [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(45.48611099733684%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}]

The BSC Centre has confirmed that it's coordinating the chain shut down.

[{"selector":"#anim-83bc7362-f9fb-48df-9bd6-fd8a3cfe5b25 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(42.59259247881833%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}]

At the same time, they fixed a problem with their Token Hub Protocol, which is like a clearing house for moving crypto transactions between separate systems in their decentralized blockchain.

[{"selector":"#anim-fa734c84-6ab6-486f-9fb0-58f250606b90 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-31.249999886225726%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}]

BNB chain has been back online, and they have announced that it will hold a series of on-chain governance votes if the hacked funds should be frozen.

On-chain data shows that this afternoon, two large withdrawals of 1 Million BSC coins were made. The attacker used swaps, bridges, and borrows to steal assets.

To read more interesting stories click the link below.

[{"selector":"#anim-0cad00a1-6b93-4964-baf8-4d5018fe1097","keyframes":[{"offset":0,"transform":"translate3d(0, -630.7602%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.28999999999999998,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.45000000000000001,"transform":"translate3d(0, -177.36976824%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.60999999999999999,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.70999999999999996,"transform":"translate3d(0, -60.30067512000001%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.80000000000000004,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.84999999999999998,"transform":"translate3d(0, -22.644291180000003%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.92000000000000004,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.95999999999999996,"transform":"translate3d(0, -9.83985912%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":1,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"}],"delay":0,"duration":1600,"fill":"both"}] [{"selector":"#anim-38a75262-6e95-4dd7-9037-0bf0a5280354 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Click Me